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Standard bank return policy

R16 over and they return the debt order a second time costing me R230 in total plus the embarrassment of a returned debt order.

So I call them yesterday and tell them to increase my overdrafts by R50 000 on both my credit card and elite account as they had offered me a couple of months ago, so that I have R100 000 available credit to prevent this utter crap from happening.

Yip you guessed right, the overdrafts are no longer available because of my bad credit rating due to a returned debit order, well done standard you have just lost a customer

A sharp reminder that the line between a good result and a bad result can be ridiculously thin at times.

It used to irritate me too back in the day when I used to let things like that happen. Figuring out that it was easier to change the way I managed my bank accounts than to change the way the banks managed my bank accounts was the turning point.

When cash flow is tight I always made sure I had a R5K margin so that nothing would bounce. Now I have an unused OD facility.
The bank preys on those who live close to the edge and they win! Rather set your limits within the banks limits.
When things are tight just think the bank doesn't care and will squeeze every cent out of me then it becomes easier not to hit that limit.

IMHO, the debt order was returned twice R115 each time, once at the end of the month and again when it was rerun on the 16th, both times there was enough money in the bank by 7 am in the morning when I got the sms indicating it was returned.

Ian, I am looking at having an account at a completely different bank which all the debit order will run, this way it doesn't interfere with my credit rating on my cheque account, which will allow me to increase and reduce my overdraft facility as and when I need to and keep my credit rating clean.

I am trying to find out if I cant run all my debit order through my elite account R99 per month and get the accountant to do his thing with the books so that it is taken off the business account for tax purposes. I don't know if I can do this.

You got to love banks, as I mentioned before they offer me some ridiculous overdraft on both my credit card and elite account, unfortunately I enjoy spending money, so I only took a R500 facility. This month things are a bit tight, so I call them and request a small increase in my overdraft not even 20 % of what they offered a couple of months ago, so that I could manage my account and prevent any incidents which might influence my credit rating. They declined it and made R575 (R115 pre return) in return fees for 5 debit orders. I need to figue out a way to stop spending money and manage my account better. Go back to how I operated my business for years, before I started my cheque accounts. I ran my business through a savings account and made lots of money, no debit orders, no insurances non of that crap. Kept my overheads down and only purchased what I could afford and couldn't spend more than I made.

Maybe this is the best thing that has happened, my credit rating is destroyed for the next 6 months. Time to go back to the simple way of life and start cutting back.